Microinsurance on the Day By Day platform

The Day By Day platform will allow the development of microinsurance through blockchain, given its potential to easily insure everyday goods. From a mobile phone to a PC, these are just a few examples of objects that can be secured in an innovative way. In turn, those who mint these policies, will obtain passive income for being the creators of the same. Discover all the news for the expansion of this market, in this article.

New insurable assets today

The insurance industry arose to provide coverage for assets that require some protection against fortuitous events due to their high value. This is how, in ancient times, this type of object was related to freight transport or expensive goods. However, over time, people have begun to incorporate small objects into their daily lives, making it very useful to be able to count on protection against certain common risks to which they are exposed.

This is how, in our daily life, we use smartphones or personal computers to carry out our work obligations, as well as to have control over the different activities we carry out. This type of «new insurable property» often does not have adequate coverage within traditional insurance companies. Thanks to new technologies, an ideal scenario is generated for the development of these coverages.

Web3 technology allows Day By Day to have a platform designed for people to find their ideal coverage at the exact moment. Among the benefits that we have, we can, for example, take out insurance for a mobile device in a flexible period, with lower costs than those we face in a traditional insurance company, with greater operating speed and with a unique security backup thanks to blockchain.

Benefits provided by Day By Day microinsurance

Currently, the rise of microinsurance for the protection of objects of daily life is increasing. Day By Day microinsurance is low-cost insurance designed to offer financial protection against specific risks to those seeking flexibility in contracting. This new trend is especially useful for individuals, who may not have the financial capacity to replace items like a mobile phone or personal computer.

Microinsurance for everyday objects has as its main objective to provide protection against specific risks, such as theft or accidental damage. Day By Day offers a wide range of coverage options, allowing customers to choose the one that best suits their needs and budget. In turn, the flexibility in terms of validity allows to insure goods even for days, which is essentially important for short trips.

The microinsurance boom is being driven by the use of everyday technology. With the increasing reliance on electronic devices, the cost of replacing a mobile phone or personal computer can be significant for many. Microinsurance is an attractive and affordable alternative for those looking to protect their devices, without having to pay large sums of money for a traditional insurance policy. With Day By Day blockchain microinsurance, people can have peace of mind knowing that their everyday items are protected against specific risks, while maintaining an affordable budget.

How to become the creator of a microinsurance policy and get passive benefits for it?

One of the possibilities offered by the Day By Day platform is to become creators of policies, by minting them as NFTs. This opens new ways to develop the industry, where all parties benefit, contributing to the chain of procedures in the insurance universe through blockchain technology. We are facing a real-life use case, which provides solutions to protect people’s assets.

By minting a policy like NFT, establishing objects to be covered, risk and term of validity, we are becoming the generators of them, so that later, another person who is looking to cover their objects in this sense opts for our «NFT policy». At the moment that happens, we will obtain passive benefits of up to 20%, without running the risk of having to support that coverage, since that works through another mechanism, where investors support the minted policies.

Let’s think that people use more and more electronic objects every day, for which it is wise to think about generating policies that contemplate risks for this type of goods. To do this, we just have to enter the advanced mode of the platform and mint a policy, selecting the asset category «Electronics», then choose the risk against which those objects are going to be covered, such as water damage, theft or fire. Finally, we only have to establish the term of the coverage and we are already in a position to mint the policy.

The opportunities that Web3 technology brings us when it comes to becoming creators of NFT policies, generate new horizons to obtain benefits within the Day By Day blockchain universe. In the past, this was an action reserved only for traditional insurance companies, but today everyone can take part.

• To find out how to mint an NFT policy in Day By Day and become a creator of it, enter here.

• To start minting your NFT policies in a personalized way, enter here.

About Day By Day and the minting of NFT policies

Day By Day is reimagining the insurance industry through technological innovation, allowing people to actively participate in proceedings, as well as giving policyholders a way to purchase coverage through Web3 technology.

The modalities for minting policies allow people to become true creators of them and obtain passive income when someone contracts coverage to protect their assets. This was an activity only reserved for traditional insurance companies, but blockchain technology is making it possible to expand so that everyone can participate in the insurance industry.

For more information of “Day By Day”, visit their website: https://daybyday.io/